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Caprylic Capric Triglyceride Market

Caprylic Capric Triglyceride Market by Form, Source, Application, End Use & Region - Forecast 2022 - 2032

Market Insights on Caprylic Capric Triglyceride covering sales outlook, demand forecast & up-to-date key trends

Caprylic Capric Triglyceride Market Snapshot

The global caprylic capric triglyceride market is expected to create an incremental opportunity of more than US$ 700 Mn by the end of 2022. The demand for caprylic capric triglyceride is estimated to surpass US$ 1,230 Mn by 2032, in comparison to the US$ 650 Mn registered in the year 2021. The sales of caprylic capric triglyceride are anticipated to rise at a CAGR of around 5% to 6% during the forecast period 2022-2032.

Report Attribute

Details

Caprylic Capric Triglyceride Market Registered Base Value (2021)

US$ 650 Million

Caprylic Capric Triglyceride Market Expected Value (2022)

US$ 700 Million

Caprylic Capric Triglyceride Market Anticipated Value (2032)

US$ 1,230 Million

Caprylic Capric Triglyceride Market Projected Growth Rate (2022-2032)

5% to 6% CAGR

Caprylic capric triglyceride, commonly known as octanoic acid due to the presence of an eight-carbon chain of saturated fatty acid, is an oily liquid, formulated by combining glycerin and coconut oil. It is also naturally found in a minimal amount in palm kernel oil and in the milk of numerous mammals. It is a clear, non-viscous liquid with a rancid-like smell and contains a mix of fatty acids that is partially soluble in water.

What are the Drivers Elevating the Sales in the Global Caprylic Capric Triglyceride Market

Caprylic capric triglyceride is gaining huge popularity across the personal care and cosmetics industries, on account of its favorable properties such as skin replenishment, emollient, antioxidant, moisturizing, and non-greasy feel among others. It is extensively being used in various personal care and cosmetics products such as face creams, perfumes, moisturizers, lipstick, foundations, eye makeup, sunscreens, and others.

Hence, accelerating sales of aforementioned products, owing to the growing consumer spending on enhancing body and facial aesthetics across the world is projected to create high revenue generation opportunities for the caprylic capric triglyceride market.

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What are the Key Factors Creating Difficult Roads for the Caprylic Capric Triglyceride Market Growth

There are some side effects associated with the use and consumption of caprylic capric triglycerides such as skin irritation, development of rashes, gastric distress, nausea, and diarrhea among others. Growing instance of such ailments is impeding the sales in the global market.

In addition to this, high cost of caprylic capric triglyceride and increasing availability of low-cost substitutes are some of the factors restraining the growth in the market.

What is the Sales Prospect of Caprylic Capric Triglyceride Market in the South Asia Market

As per Future Market Insights, South Asia is estimated to emerge as a highly remunerative market for caprylic capric triglyceride between 2022 and 2032.

Over the last few years, a significant rise in number of baby births is being witnessed across South Asia, creating strong demand for baby care products. For instance, according to United Nations International Children's Emergency Fund (UNICEF), nearly 67,385 babies are born across India every day.

Due to its high moisturizing, skin nourishing, and antioxidant properties, caprylic capric triglyceride is increasingly used for the production of baby care products such as soaps, massage oil, body lotions, and others. Hence, rising baby births is projected to bolster the sales in the South Asia market.

Sneha Verghese
Principal Consultant
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Why is the Demand for Caprylic Capric Triglyceride Augmenting in the North America Market

North America is anticipated to exhibit growth at a rapid CAGR in the global caprylic capric triglyceride market during the forecast period 2022-2032, states FMI.

As the trend of adopting clean-label products and inclination toward plant-based & organic personal care & cosmetics products continues to grow across North America, there is a rapid surge in demand for naturally sources essential ingredients such as caprylic capric triglyceride.

In addition, on account of the approval by the Food and Drug Administration regarding the use of caprylic capric triglyceride, leading players in the market are emphasizing on expanding their production capacity to capitalize on surging demand. This is expected to drive the growth in the North America market.

Market Competition

Some of the leading players in the caprylic capric triglyceride market are Kao Corporation, ABITEC, American International Chemical, LLC., Alzo International, Charkit Chemical, Vigon International, Jarchem Industries, Lonza Group, Lipo Chemicals, Penta International, and others.

The market for caprylic capric triglyceride is highly competitive, attributed to the adoption of strategies such as production capacity expansion, collaboration, merger, and acquisition by key companies.

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Report Scope

Report Attribute

Details

Growth Rate

CAGR of 5% to 6% from 2022 to 2032

Base Year for Estimation

2021

Historical Data

2015-2020

Forecast Period

2022-2032

Quantitative Units

Revenue in USD Million, Volume in Kilotons and CAGR from 2022-2032

Report Coverage

Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis

Segments Covered

  • Form
  • Source
  • Application
  • End Use
  • Region

Countries Covered

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia
  • Oceania
  • Middle East and Africa

Key Companies Profiled

  • Kao Corporation
  • ABITEC
  • American International Chemical, LLC.
  • Alzo International
  • Charkit Chemical
  • Vigon International
  • Jarchem Industries
  • Lonza Group
  • Lipo Chemicals
  • Penta International
  • Others

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Key Segments Profiled in the Caprylic Capric Triglyceride Market Survey

By Form:

  • Liquid
  • Semi-solid

By Source:

  • Coconut oil
  • Palm oil
  • Others

By Application:

  • Skin Care
  • Hair Care
  • Makeup
  • Fragrances
  • Bath and Body Care
  • Food
  • Medicines

By End Use:

  • Cosmetic and Personal Care Industry
  • Pharmaceutical Industry
  • Food and Beverage Industry
  • Health and Wellness Industry
  • Others

By Region:

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia
  • Oceania
  • Middle East and Africa

Frequently Asked Questions

FMI projects the sales of caprylic capric triglyceride in the market is expected to rise at 5% to 6% value CAGR by 2032

The global caprylic capric triglyceride market is expected to be dominated by South Asia over forecast period 2022-2032.

Kao Corporation, ABITEC, American International Chemical, LLC., Alzo International, Charkit Chemical, Vigon International, Jarchem Industries, Lonza Group, Lipo Chemicals, Penta International, and others are some of the leading players in the prominent caprylic capric triglyceride market.

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Sneha Verghese
Principal Consultant
LinkedIn
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Caprylic Capric Triglyceride Market